"Use Only for Small Business Owners"... Ulsan City Restricts 'Local Currency' for Companies with Annual Sales Exceeding 3 Billion Won

From midnight on September 30, 1,595 locations including Nonghyup Hanaro Mart and hospitals

To support small business owners, Ulsan is implementing usage restrictions on local gift certificates. This involves canceling the affiliation of stores belonging to large sales companies.

On the 25th, Ulsan City announced that starting from midnight on September 30, the use of 'Ulsan Pay,' Ulsan's local gift certificate, will be restricted for companies with annual sales exceeding 3 billion KRW.

This decision follows the Ministry of the Interior and Safety's '2023 Comprehensive Guidelines for Local Gift Certificate Issuance Support Project,' aiming to reorganize the usage of local gift certificates to focus on small and micro businesses.

The affiliated stores subject to restrictions include 1,595 locations such as Nonghyup Hanaro Mart, hospitals, and pharmacies, accounting for about 2.4% of all Ulsan Pay affiliated stores.

Starting from the 25th, Ulsan City will encourage voluntary cancellation of affiliation through prior notifications to the affected stores, and after procedures including opinion submissions from September 1 to 20, plans to restrict Ulsan Pay usage from midnight on September 30.

Information about stores where usage is restricted will be provided through Ulsan City's website or the Ulsan Pay app.

An official from Ulsan City stated, "Local currency is a support policy for small business owners that contributes to revitalizing the local economy. Although this reorganization may cause some inconvenience in using Ulsan Pay, we hope people will understand the policy intent to focus resources on supporting small business owners."

Ulsan City Hall.

This content was produced with the assistance of AI translation services.